Credit Agricole CEO says bank won't tender Banco BPM stake into MPS bid
08/10/2026 12:06
Credit Agricole CEO says bank won't tender Banco BPM stake into MPS bid FRANKFURT, Oct 8 (Reuters) - Credit Agricole CAGR.PA Chief Executive Olivier Gavalda said on Thursday the French bank will not tender its 29.3% stake in Banco BPM BAMI.MI into Monte dei Paschi di Siena's BMPS.MI takeover offer.
Gavalda said MPS' proposal was "not attractive enough".
As part of its efforts to thwart its own buyout by Italy's biggest lender Intesa Sanpaolo ISP.MI, MPS is proposing buying mid-sized rival Banco BPM as well as wealth manager Banca Generali BGN.MI.
($1 = 0.8947 euros)
(Reporting by Dominique Patton, written by Andrea Mandalà, editing by Alvise Armellini)
((andrea.mandala@thomsonreuters.com; +390680307738;))
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